Each of these developers is guaranteed a three-year revenue-sharing publishing agreement along with a cash price, which will be awarded based upon their final ranking. The first place winner is set to gain $50,000 for their contribution.

Here's the line up of games competing:

RetroPong from PegPeg
Up to four players can compete in this Pong game with each player starting with a number of lives. Single player brings with it a history mode.

Pong Evo from Island Officials
Introducing an unique power up system, 5 game types and visual flare, Pong Evo looks set to be quite a reboot.

Pong 4033 from Fishbowl Productions
Pong 4033 uses gestures rather than a paddle to control movement, along with a selection of power mods.

Pong World from zGames
Supplying new game modes, levels and upgradeable paddles with active and passive boosts, all added to the original game's core mechanics.

Fong from Eppy Game
No longer restricted to a sharp edged screen, Fong offers the Pong expeirence in a circlular arena with goal targets to aim at and emoting paddles.

Pong Tournament from MadRuse Games
Steal energy from your opponent to buy defensive upgrades and special abilities to help succeed in this Pong remix.

The winner will be announced August 2, having been selected in part by a celebrity judging panel made up of Atari founder Nolan Bushnell, Dave Castelnuovo, David Whatley, and Mike Schramm. All of the finalists will enjoy a commercial release.